systems were originally purchased by Wisconsin Public Service from AMSC to provide voltage stabilization to the Rhinelander Loop, a 115 kilovolt (kV), 200-mile transmission loop in northern Wisconsin.
However, while we still have some chance to close D-SMES
orders and deliver product this quarter, because of the additional delays we have experienced we are revising our SMES revenue guidance down from $8 to $10 million for the year to $2 to $6 million.
The use of D-VAR and D-SMES
units in transmission substations provides a robust, cost-effective solution that can increase that limit to as much as 90% of maximum capacity -- within days and without the need for environmental permits.
solution for TVA, comprising one D-SMES
unit, will be deployed in the TVA power grid in November 2001.
We expect to receive an order for a D-SMES
unit from a new utility customer and to deliver and install this unit in the current quarter.
We are continuing to work with American Superconductor and GE to determine those areas in our multi-state grid where D-SMES
can help us keep up with the increasing demand for more power with higher reliability in the most cost-effective way.
The team's first D-SMES
sale was to Entergy Corporation, which has headquarters in New Orleans and ranks among the largest U.
Our new D-SMES
product line provides the quickest, lowest cost and most effective solution for power reliability and capacity needs.
With the momentum we built toward the end of our last fiscal year, the new marketing and sales alliance we commenced with General Electric last quarter, and the successful start up this summer of the first commercial D-SMES
system in a utility power grid, we believe we can achieve our revenue targets for SMES this fiscal year," said Yurek.
product stores electricity from the power grid in a coil of superconducting wire.
The IVR (industrial voltage restorer) is based on new technology developed for the company's D-SMES
solution for power grid reliability.
Our entry into the power transmission market with D-SMES
represents an exciting new opportunity for significant revenue growth for American Superconductor," said Greg Yurek, president and chief executive officer of American Superconductor, who announced the D-SMES
product at the BT Alex.